Call to rethink IHT on farmers

Aled Jones, President of NFU Cymru, has urged the Prime Minister to reconsider inheritance tax proposals that are causing distress among older farmers. The UK Government plans to tax inherited agricultural assets over £1m at a rate of 20% starting April 2026, which Jones argues will affect far more than the estimated 500 farms. He said: “I know that no government would want to place anyone in the difficult and invidious position that many elderly farmers now find themselves in.” Farming unions estimate that up to 70,000 farmers could be impacted, raising concerns about the financial burden on their families. However, the Government maintains that three-quarters of estates will pay no inheritance tax.